Indonesia's Foreign Exchange Reserves Increased to US$145.9 Billion in November 2021

Bank Indonesia (BI) reported that Indonesia's foreign exchange reserves amounted to US$145.9 billion in November 2021. This position represents an increase from the previous month's US$145.5 billion.

The increase in Indonesia's foreign exchange reserves was due to the government's withdrawal of foreign loans. It was also driven by tax and service revenues.

Indonesia's foreign exchange reserves are equivalent to 8.3 months of import financing or 8.1 months of import and foreign debt payments. BI also explained that foreign exchange reserves in November 2021 were above the international adequacy standard of approximately 3 months of imports.

BI assesses that these foreign exchange reserves are capable of supporting the resilience of the external sector. Indonesia's foreign exchange reserves are also considered capable of maintaining macroeconomic and financial system stability.

Looking ahead, BI views foreign exchange reserves as remaining adequate. This is supported by the maintained stability and prospects of the economy, along with various policy responses to encourage economic recovery.